Title of the project: OPEN MARKET ENERGY GENERATION ALLOCATION, OMEGA.

Reference: UE IST-1999-12088.

Financing: European Union.

Participants: University of Castilla – La Mancha, Iberdrola.

Duration: 01/00 - 06/02.

Principal Investigator: A. J. Conejo.

Researchers: A. J. Conejo, J. Contreras, J. M. Arroyo, N. Alguacil, Francisco A. Villamor.

Summary: The project aims at designing and implementing a decision support tool for electricity producers in an open and deregulated electric power market. The system will exploit innovative modelling and algorithmic approaches and electronic commerce schemes to address the following problems: 1. Allocation of bilateral energy sales contracts over time. 2. Calculating the future expected water value, taking energy substitution into account. 3. Solving the unit commitment problem for a disaggregated system. 4. Energy bidding (price and quantity) in the electricity spot markets. The OMEGA project aims at the development of concepts and tools for virtual marketplace and business communities. The result of OMEGA can be seen as a package tool supporting new business models and new types of trading for electricity producers on liberalised energy markets and will enable European power producers to be competitive partners in future electronic commerce based electricity trading environments.